Splintershards
SPS
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Splintershards (SPS) is the governance and in-game token for the Splinterlands play-to-earn trading card game. The project demonstrates ongoing game development, structured changelogs, and an active governance DAO framework that passes and executes proposals. However, significant fundamental challenges persist: the token experiences persistent sell pressure from rewards-heavy tokenomics, micro-cap valuation ($4.7M–$5.6M), and severely constrained liquidity in a saturated GameFi landscape. On-chain metrics reveal security risks including mintable deployer permissions on BNB Chain, extreme holder concentration (86%–99%), and the absence of a completed third-party audit report on CertiK despite engagements dating to 2021. No qualifying red-flag exploit, regulatory action, or security breach was identified in the project history.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Splintershards (SPS)
Splintershards (SPS) is the governance and utility token of Splinterlands, a play-to-earn blockchain trading card game. The token exists as a BEP-20 token on BNB Chain and an ERC-20 token on Ethereum. It serves as the core asset for the project's decentralized autonomous organization (DAO), allowing holders who stake their tokens to submit and vote on governance proposals, including game reward pool allocations and development initiatives. The token has a fixed maximum supply of 3,000,000,000 units, with a majority allocated toward player rewards alongside designated allocations for DAO reserves, private sales, and advisors.
The project maintains an active release schedule with continuous gameplay balance updates, feature rollouts, and community-approved DAO executions. Token utility is structured around governance voting, staking mechanics, and in-game earnings. However, the tokenomics model relies on continuous reward emissions without documented deflationary or revenue-sharing structures, which generates persistent sell pressure typical of gaming reward assets.
SPS has experienced a severe price drawdown exceeding 50% from its late-2021 peak trading levels near $0.90–$1.00 down to sub-cent valuations, settling into a micro-cap market capitalization with low, fragmented daily trading volume. Security and centralization analyses highlight several structural risks: CertiK audit records indicate an audit engagement initiated in November 2021 that remains listed as in-progress with no completed third-party audit report published. Additionally, the BNB Chain contract retains unrenounced minting privileges, token distribution shows high concentration among top non-exchange holders (over 86% on BNB Chain and over 99% on Ethereum), and restricted trading conditions have been flagged on the Ethereum contract.